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INDUSTRY NEWS

April 16, 2015

New MTB Process Signed Into Law

On May 20, 2016, President Obama signed the American Manufacturing Competitiveness Act of 2016. The Act creates a new process for establishing temporary duty suspension on products that are not available domestically.  While many details have yet to be announced, many companies may wish to see if any of their inputs will qualify when the new process is published later this […]
April 16, 2015

OFAC Designations High;light Need For Compliance Vigilance

On January 17th the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 11 entities and individuals involved in procurement on behalf of Iran’s ballistic missile program. OFAC sanctioned Mabrooka Trading Co LLC (Mabrooka Trading) – based in the United Arab Emirates (UAE) – and its China- and UAE-based network that have been involved in procuring goods […]
April 16, 2015

Mandatory Filing in ACE Begins This Month For FTZs

Effective February 28, 2016, importers will only be permitted to file electronic entries and associated entry summaries in ACE and.  After that date, U.S. Customs and Border Protection (CBP) will no longer permit filing in the Automated Commercial System (ACS.) Importers who have not done so already must prepare for the imminent transition to ACE as the primary system through […]
April 16, 2015

Flash Strike Closes NY/NJ Ports

The East Coast’s busiest port system ground to a halt on Friday, January 29th as thousands of longshoremen in New York and New Jersey walked off the job, disrupting the delivery of goods already delayed by the massive snowstorm which kept the ports closed earlier in the week. The walkout caught many people involved with port operations by surprise, and the […]
April 16, 2015

Report Dims Outlook For TPP

The Trans-Pacific Partnership, President Obama’s biggest economic priority of his final year in office,  would increase incomes, exports and growth in the United States but is unlikely to add to overall employment, according to an independent analysis released January 25th.  International economists Peter A. Petri of the Brandeis International Business School and Michael G. Plummer of Johns Hopkins University, writing for […]
April 16, 2015

Iran Trade Sanctions Finally End

On January 13th the United States and European nations lifted oil and financial sanctions on Iran, and released roughly $100 billion of its assets.  Western companies responded quickly in approaching the country in an effort to sell everything from aircraft to oilfield services to business and state organizations which have been economically untouchable since the George W. Bush administration Five […]
April 16, 2015

Middle East Tensions Continue To Impact Trade

The landmark deal to ease trade sanctions against Iran, in exchange for dismantling their nuclear weapon program, seemed to offer a path to normalizing trade with the most populous country in the Middle East.  Iran even took the significant step of transferring its stock of weapons-grade nuclear material to Russia. Then the country fired a missile ‘test’ in the vicinity […]
April 16, 2015

18,000 TEU vessel lands in LA

The largest container ship ever to visit U.S. shores docked at Pier 400 in the Port of Los Angeles just before the new year.  The 18,000 TEU Benjamin Franklin, owned by French shipping line CMA CGM SA, is 30% larger than any previous container vessel to grace US shores. Fuel is the largest expense for the ocean carriers. As global trade […]
April 16, 2015

New Agriculture Rules Pit Fish Against Fish

About 75% of catfish consumed in the U.S. is imported. Those imports will now be regulated by the U.S. Department of Agriculture under rules just announced that go into effect in March of next year. The USDA has spent $20 million to implement the program and take over responsibility for catfish import oversight from the Food and Drug Administration. The […]
April 16, 2015

Trade Measures Add To Middle East Tensions

Refinements to the E.U.’s origin marking requirements have exacerbated already frayed nerves in the Middle East. The European Union is Israel’s top trading partner, and will now require marking “made in settlements” on goods produced in Israeli-owned businesses in the occupied West Bank, the Golan Heights, and East Jerusalem, lands annexed by Israel during the Six-Day War in 1967. Israel […]

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